Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has closed its previously announced underwritten public offering of 10,309,280 common shares at a price of US$4.85 per share, generating gross proceeds of approximately US$50 million. The company, a clinical-stage pharmaceutical company developing novel serotonergic agonists (NSAs) for mental health disorders, will use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder, with Phase 3 APPROACH data expected in the fourth quarter of 2026, as well as HLP004 for generalized anxiety disorder and HLP005, while also supporting working capital and general corporate purposes.
Cantor and Barclays served as joint bookrunning managers for the offering, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers. Helus Pharma paid the underwriters a cash commission of US$3 million in connection with the offering. The full press release is available at https://ibn.fm/bSYLT.
Helus Pharma, the commercial operating name of Cybin Inc., founded in 2019, is committed to developing proprietary NSAs—synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The company's NSAs aim to address the large unmet need for people who suffer from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma aims to improve the treatment landscape through the introduction of NSAs that aim to provide durable improvements in mental health.
The company is currently developing HLP003, a proprietary NSA in Phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, HLP004, also a proprietary NSA, is in Phase 2 for generalized anxiety disorder. Helus Pharma also has an extensive research portfolio of investigational NSAs.
The successful closing of this $50 million public offering provides Helus Pharma with the capital necessary to advance its pipeline through key clinical milestones. The upcoming Phase 3 APPROACH data readout for HLP003 in the fourth quarter of 2026 will be a critical catalyst for the company. If successful, HLP003 could offer a new treatment option for the millions of patients with major depressive disorder who do not respond adequately to existing therapies. The company's focus on novel serotonergic agonists represents a promising approach to treating mental health conditions by targeting neuroplasticity, which may lead to more durable improvements in symptoms.
Helus Pharma operates in Canada, the United States, the United Kingdom and Ireland. For company updates and more information, visit www.helus.com or follow the team on X, LinkedIn, YouTube and Instagram. Helus Pharma is a trademark of Cybin Corp. The latest news and updates relating to HELP are available in the company’s newsroom at https://ibn.fm/HELP.
